Online sports betting, poker and casino platform BetOnline.ag has become the first casino and sportsbook company to accept Bored Ape Yacht Club (BAYC) cryptocurrency ApeCoin for transactionsaccording to a press release shared last Friday.
The gaming operator has added ApeCoin to its list of approved cryptocurrency processing for deposits and withdrawals, the company announced via Odds PR agency. ApeCoin ($APE) began trading on crypto exchanges on March 17, after months of hype behind the ERC-20 token created by Yuga Labs, parent company of popular Bored Ape Yacht Club NFT project.
BetOnline, which publicly announced its NFT market entry in February after buying Bored Ape #320 for $375,000 during Super Bowl weekdescribes itself as an “early adopter” of cryptocurrency: the website began accepting Bitcoin for transactions in 2010.
“We got into bitcoin early because we believe blockchain is the future of global currency,” said BetOnline CEO Eddie Robbins III. “And now it’s incredibly exciting to start adding NFTs to our asset vault. and be the first in our industry to accept ApeCoin. We are bullish on the world of Web3, and look forward to building and strengthening our partnerships and promotions in this space.”
Introducing ApeCoin ($APE), a culture, gaming, and commerce token used to power a decentralized community at the cutting edge of the web3. 🧵
– ApeCoin (@apecoin) March 16, 2022
Apart from Bitcoin, BetOnline.ag accepts over a dozen altcoins for deposits and withdrawals on its platform. Some of these cryptocurrencies include Ethereum, Dogecoin, Avalanche, Cardano, Polygon, Solana, and USDC.
Company aims to be “widely respected” within the crypto community through processing benefitsincluding no transaction fees, high level security and instant deposits and withdrawals. Clients have access to crypto deposit limits of up to $500,000which is “the highest in the gaming industry“, according to a press release.
“We have established ourselves as the go-to sports betting, poker and casino platform for crypto players who want the best gaming experience guaranteed by anonymity and transparency,” Robbins added. “The safety of our customers has been and always will be BetOnline’s top priority.”
An Etherscan transaction from Thursday morning shows that the ENS domain and the company’s crypto wallet, betonline-ag.eth, claimed 10,094 APE tokens. A spokesperson said the company had “no intention” of selling its ApeCoin.
Probably something. pic.twitter.com/BTlsgNNW2g
— BetOnline.ag (@betonline_ag) February 7, 2022
For March Madness, BetOnline is currently offering a 110% matching bonus for new customers depositing with cryptocurrency and a 45% deposit bonus for existing customers, the company further announced.
“NFTs are a new vertical for us, but we’re just as bullish on this global move as we are on the crypto space,” Robbins said last month.. “We’re just getting started with non-fungible tokens, but we have big plans for this burgeoning industry.”
The company’s acquisition of Bored Ape Yacht Club #320 marked the beginning of a “long-term vision for the Web3 world” and the “strengthening of corporate sponsorships and promotions”, depending on the platform. “We saw this as an extremely exciting opportunity to join one of the most sought after NFT communities in the world,” Robbins said.